The Reserve Bank of India today announced removal of cash withdrawal limits for ATMs from February 1.
The central bank removed limits on current, overdraft accounts immediately.
However, limits on savings bank accounts will continue.
It has been decided by RBI to partially restore status quo ante as under:
- Limits placed vide the circulars cited above on cash withdrawals from Current accounts/ Cash credit accounts/ Overdraft accounts stand withdrawn with immediate effect.
- The limits on Savings Bank accounts will continue for the present and are under consideration for withdrawal in the near future.
- Limits vide the circulars cited above placed on cash withdrawals from ATMs stand withdrawn from February 01, 2017. However, banks may, at their discretion, have their own operating limits as was the case before November 8, 2016, subject to 2 (ii) above.
Limits on Cash withdrawals from Bank accounts and ATMs – Restoration of status quo ante
